Spatio-Temporal Analysis of Cocoa Production and Exportation in Nigeria
DOI:
https://doi.org/10.22105/nmbzp696Keywords:
Spatio-temporal, Cocoa, Production, ExportAbstract
The role of agriculture in the economy of an agrarian country like Nigeria cannot be overemphasized. It is a significant source of employment, revenue generation, wealth creation, poverty reduction, and the supply of raw materials for industrial development. Cocoa has been a significant source of foreign exchange earnings for Nigeria. The country ranks as the fourth largest producer of cocoa globally, following Ivory Coast, Ghana, and Indonesia. It is the largest non-oil means of earning foreign exchange through exportation. Despite its importance, the potential remains largely untapped. Currently, agriculture is facing different challenges, which makes productivity low. Among are poor financing, poor transportation network, poor storage and processing facilities, poor farmers' education, climate change, poor extension services, crude tools and machines, unstable policies and programmes of government, poor marketing systems, pest and diseases, shortage of agricultural inputs, environmental degradation, resource scarcity, conflicts, outdated agricultural practices, and various other issues. The study examined the spatio-temporal analysis of cocoa production and exports in Nigeria. Secondary data of Cocoa Output (CO), cocoa Yield (YE), and exports (CEX) were analyzed spanning from 1980 to 2020. Data were sourced from reputable national and international sources such as the Food and Agriculture Organization (FAO) and publications from the Central Bank of Nigeria (CBN). The analytical tools employed in the study included descriptive statistics (graphs) such as trends. The result showed that cocoa export is significantly determined by COs, which in turn add value to the exchange rate. Based on the findings, recommendations were suggested in the study.
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